The board of Aggreko has recommended that its shareholders back a £2.3 billion takeover offer from a pair of private equity bidders.

The provider of temporary power generators could be taken off the London Stock Exchange in the summer if investors support the deal. Analysts said that there appeared to be little chance of a counter bid and that the 880p-per-share cash offer provided good value.

I Squared Capital, an American infrastructure investor, and TDR Capital, the London-based firm involved in buying Asda for £6.8 billion with the Issa brothers, are behind the Aggreko takeover.

Read more at The Times